Answer:
The SRAS curve will shift to the right.
Explanation:
A decline in nominal wages will reduce the cost of hiring labor. The overall cost of production will reduce as well. The firms will be able to increase production and investment.
This increase in production and investment will increase the aggregate supply. As a result, the short-run aggregate supply curve will move to the right. This will cause the equilibrium price to fall and the equilibrium quantity to increase.
Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.
What is Monetary unit?
The monetary unit principle stipulates that only transactions that may be stated in terms of a currency should be documented. In other words, non-quantifiable items shouldn't be recorded in the financial statements of a company. Money has become a common measurement unit in accounting over time.
Therefore,
Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.
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Answer:
A
Explanation:
The country with a comparative advantage in the production of a good should export the good
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
England
Comparative advantage in the production of scones = 1/50 = 0.02
Comparative advantage in the production of sweater = 50/1 = 50
Scotland
Comparative advantage in the production of scones = 2/40 = 0.05
Comparative advantage in the production of sweater = 40/2 = 20
England has a comparative advantage in the production of scones and should export scones
Scotland has a comparative advantage in the production of sweaters and should export sweaters
Answer:
E) contracts out certain value chain activities that are normally performed in-house to outside vendors.
Explanation:
A strategic alliance usually serves the following purposes:
- facilitate the achievement of an important business objective
- helps to build, strengthen, or sustain a core competence or competitive advantage (option A)
- helps to remedy an important resource deficiency or competitive weakness
- helps to defend against a competitive threat, or lower a significant risk (option B)
- increases bargaining power over suppliers or buyers (option C)
- helps to open new market opportunities (option D)
- speeds the development of new technologies and innovations
Answer & Explanation
Monopoly is where in the market there is only one seller in the market has a certain product where no other seller has. It my be goods or services but there is no substitute. This means that the owner of such a product is in full control of his/her supply. The main or the greatest impact of monopoly in the market may favors the the seller only while on the other the side the consumer may be pressed. This mostly occurs when it comes to pricing because a monopoly has potential to rise prices. This is due to lack of competition in the market. An example of monopoly in the united states in the past was :
Standard Oil company - This was an oil producing company which was producing,transporting,refining and marketing oil. It was incorporated under Standard Oil Trust which handled all oil production, transportation, refinement, and marketing. Holds 91% of oil production and 85% of its final sales in the United States Market in the early 1900s. The main sources of of monopoly were that to join into a certain industry it was very expensive so this became a main barrier.
